{"id":937142,"date":"2026-02-16T19:35:05","date_gmt":"2026-02-17T00:35:05","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/woodside-energy-releases-annual-reserves-statement\/"},"modified":"2026-02-16T19:35:05","modified_gmt":"2026-02-17T00:35:05","slug":"woodside-energy-releases-annual-reserves-statement","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/woodside-energy-releases-annual-reserves-statement\/","title":{"rendered":"Woodside Energy Releases Annual Reserves Statement"},"content":{"rendered":"

<\/p>\n

Woodside Energy Releases Annual Reserves Statement<\/b><\/p>\n

PERTH, Australia–(BUSINESS WIRE<\/a>)–
\nWoodside today announced that at year end 2025 it had remaining proved (1P) reserves of 1,882.1 MMboe, remaining proved plus probable (2P) reserves of 2,999.5 MMboe, and remaining 2C contingent resources of 5,795.7 MMboe.1<\/sup><\/p>\n

\nExcluding divestments and production, proved reserves increased by 134.1 MMboe, and proved plus probable reserves increased by 141.0 MMboe, reflecting another year of strong performance from the portfolio.<\/p>\n

\nWoodside Acting CEO Liz Westcott said the reserves update demonstrated the quality of the portfolio and ongoing efforts to maximise the value of the existing assets.<\/p>\n

\n\u201cOur 2025 reserves statement demonstrates the strength and resilience of our portfolio. The additions to proved and probable reserves reflect disciplined investment decisions and technical excellence across our global operations.<\/p>\n

\n\u201cThese results combined with our final investment decision on Louisiana LNG underpin our ability to deliver sustained cash flow and long-term value for shareholders while progressing projects that meet growing energy demand.\u201d<\/p>\n

\nAt 31 December 2025, Woodside\u2019s remaining proved reserves were 1,882.1 MMboe, compared with 1,975.7 MMboe at 31 December 2024. Proved plus probable reserves remaining were 2,999.5 MMboe, compared with 3,092.2 MMboe at 31 December 2024. 2C contingent resources remaining were 5,795.7 MMboe, compared with 5,869.7 MMboe at 31 December 2024.1<\/sup><\/p>\n

\nReservoir performance and technical updates across assets in Australia, Senegal and the United States resulted in proved reserves increases of 104.0 MMboe and proved plus probable reserves increases of 86.0 MMboe. Prominent drivers included technical updates at Pluto following production performance that exceeded expectations, and continued strong performance at Sangomar including booking of reserves associated with water injection for the S400 reservoirs. These updates reflect ongoing reservoir surveillance and strong operational performance across Woodside\u2019s core producing assets.<\/p>\n

\nSanctioning of projects resulted in proved reserves increase of 30.1 MMboe and proved plus probable increase of 55.0 MMboe. This included final investment decisions on Greater Western Flank 4 (North West Shelf), Turrum Phase 3 (Bass Strait) and Atlantis major facilities expansion and demonstrated Woodside\u2019s commitment to advancing high-value developments that support long-term production.<\/p>\n

\nWoodside has a proved reserves life of 8.9 years and a proved plus probable reserves life of 14.2 years at 2025 production levels.<\/p>\n

\nA copy of Woodside\u2019s Reserves and Resources Statement is included in this announcement.<\/p>\n\n\n
\n

1 <\/sup>Proved reserves for 2025 include 170.3 MMboe of fuel; proved plus probable reserves for 2025 include 267.9 MMboe of fuel; 2C contingent resources for 2025 include 359.8 MMboe of fuel (Woodside share). Proved reserves for 2024 include 178.2 MMboe of fuel; proved plus probable reserves for 2024 include 273.4 MMboe of fuel; 2C contingent resources for 2024 include 360.3 MMboe of fuel (Woodside share).<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

This announcement was approved and authorised for release by Woodside\u2019s Disclosure Committee.<\/i><\/p>\n

Forward-looking statements<\/b><\/p>\n

\nThis announcement contains forward-looking statements. These statements may relate to Woodside’s business, goals, targets, aspirations, plans, expectations, market conditions, results of operations and financial condition, including, but not limited to, statements regarding the timing, completion and outcome of transactions, construction costs and capital expenditures, supply and demand for Woodside\u2019s products, development, completion and execution of Woodside\u2019s projects, the expected benefits, cash flows and rates of return or other future results of investments, strategies and transactions, the payment of future dividends and amounts thereof, future results of projects, operating activities and new energy products, expectations and plans for renewables production capacity and investments in, and development of renewables projects, expectations and guidance with respect to production, production costs and other costs, capital expenditure, abandonment expenditure, exploration expenditure and gas hub exposure, trends in commodity prices and currency exchange rates, adoption and implementation of new technologies and expectations regarding the achievement of Woodside\u2019s Scope 1 and 2 greenhouse gas emissions targets and Scope 3 investment and emissions abatement targets (in each case on a net equity or gross equity basis as specified) and other climate and sustainability goals. All forward-looking statements contained in this announcement reflect Woodside’s views held as at the date of this announcement. All statements, other than statements of historical or present facts, are forward-looking statements and generally may be identified by the use of forward-looking words such as ‘aim\u2019, anticipate\u2019, \u2018aspire\u2019, \u2018believe\u2019, \u2018enable\u2019, \u2018estimate\u2019, \u2018expect\u2019, \u2018forecast\u2019, \u2018foresee\u2019, \u2018guidance’, \u2019intend\u2019, ‘likely’, \u2018may\u2019, \u2018objective\u2019, \u2018outlook\u2019, \u2018pathway\u2019, \u2018plan\u2019, \u2018position\u2019, ‘potential’, ‘project’, ‘schedule’, \u2018seek\u2019, ‘should’, \u2018strategy\u2019, \u2018strive\u2019, \u2018target\u2019, \u2018will\u2019 and other similar words or expressions.<\/p>\n

\nForward-looking statements in this announcement are not guidance, forecasts, guarantees or predictions of future events or performance, but are in the nature of future expectations that are based on management\u2019s current expectations. Those statements and any assumptions on which they are based are only opinions, are subject to change without notice and are subject to inherent known and unknown risks, uncertainties, assumptions and other factors, many of which are beyond the control of Woodside, its related bodies corporate and their respective officers, directors, employees, advisers or representatives.<\/p>\n

\nDetails of the key risks relating to Woodside and its business can be found in the “Risk” section of Woodside’s most recent Annual Report released to the Australian Securities Exchange and Woodside’s most recent Annual Report on Form 20-F filed with the United States Securities and Exchange Commission and available on the Woodside website at https:\/\/www.woodside.com\/investors\/reports-investor-briefings<\/a>. You should review and have regard to these risks when considering the information contained in this announcement.<\/p>\n

\nInvestors are strongly cautioned not to place undue reliance on any forward-looking statements. Actual results or performance may vary materially from those expressed in, or implied by, any forward-looking statements.<\/p>\n

\nAll information included in this announcement, including any forward-looking statements, speak only as of the date of this announcement and, except as required by law or regulation, Woodside does not undertake to update or revise any information or forward-looking statements contained in this announcement, whether as a result of new information, future events, or otherwise.<\/p>\n

Notes relating to reserves and resources<\/b><\/p>\n

\nWoodside is an Australian company with securities listed on the Australian Securities Exchange, and the New York Stock Exchange. Woodside reports its proved reserves in accordance with the regulations of the United States Securities and Exchange Commission (SEC), which are also compliant with SPE-PRMS guidelines, and prepares and reports its proved plus probable reserves and 2C contingent resources in accordance with SPE-PRMS guidelines. Woodside reports all petroleum resource estimates using definitions consistent with SPE-PRMS.<\/p>\n

\nFurther notes relating to the disclosure of reserves and resources information in this document are included under the heading \u201cNotes to the Reserves and Resources Statement\u201d in the accompanying Reserves and Resources Statement.<\/p>\n

Disclosure of reserve information and cautionary note to US investors<\/b><\/p>\n

\nThe SEC prohibits oil and gas companies, in their filings with the SEC, from disclosing estimates of oil or gas resources other than \u2018reserves\u2019 (as that term is defined by the SEC). In this announcement, and the accompanying Reserves and Resources Statement, Woodside includes estimates of quantities of oil and gas using certain terms, such as \u2018proved plus probable (2P) reserves,\u2019 \u2018best estimate (2C) contingent resources,\u2019 \u2018reserves and contingent resources,\u2019 \u2018proved plus probable,\u2019 \u2018developed and undeveloped,\u2019 \u2018probable developed,\u2019 \u2018probable undeveloped,\u2019 \u2018contingent resources\u2019 or other descriptions of volumes of reserves, which terms include quantities of oil and gas that may not meet the SEC\u2019s definitions of proved, probable and possible reserves, and which the SEC\u2019s guidelines strictly prohibit Woodside from including in filings with the SEC. These estimates are by their nature more speculative than estimates of proved reserves and would require substantial capital spending over a significant number of years to implement recovery, and accordingly are subject to substantially greater risk of being recovered by Woodside. In addition, actual locations drilled and quantities that may be ultimately recovered from Woodside\u2019s properties may differ substantially. Woodside has made no commitment to drill, and likely will not drill, all drilling locations that have been attributable to these quantities.<\/p>\n

\nThe Reserves Statement presenting Woodside\u2019s proved oil and gas reserves in accordance with the regulations of the SEC will be filed with the SEC as part of Woodside\u2019s annual report on Form 20-F. U.S. investors are urged to consider closely the disclosures in Woodside\u2019s filings with the SEC, which are available at www.sec.gov<\/a>.<\/p>\n

Reserves and Resources Statement<\/b><\/p>\n

\nWoodside produced a total of 211.4 MMboe in 2025, including 197.7 MMboe produced for sale and 13.7 MMboe of production consumed as fuel in operations.1 <\/sup>At 31 December 2025, Woodside\u2019s remaining proved (1P) reserves were 1,882.1 MMboe, remaining proved plus probable (2P) reserves were 2,999.5 MMboe, and remaining 2C contingent resources were 5,795.7 MMboe (Table 1).<\/p>\n

\nAs a result of the divestment of the Greater Angostura assets in Trinidad and Tobago,2 <\/sup>Woodside\u2019s proved developed reserves decreased by 16.3 MMboe, proved plus probable developed reserves decreased by 22.3 MMboe, and 2C contingent resources decreased by 19.6 MMboe (shown as acquisitions and divestments in Tables 2, 3 and 7).<\/p>\n

\nIn 2025, excluding divestments and production, Woodside\u2019s proved reserves increased by 134.1 MMboe, proved plus probable reserves increased by 141.0 MMboe, and 2C contingent resources decreased by 54.4 MMboe (shown as revisions of previous estimates, improved recovery, transfer to\/from reserves, and extensions and discoveries in Tables 2 and 3). Key drivers for these changes included:<\/p>\n